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Fidelity Investment Rewards American Express Card

The Fidelity Investment Rewards American Express Card offers an industry-best 2% cashback while providing some of the best savings you’ll find. This Fidelity Investment rewards card is not on the main American Express website; it’s too good of a deal to offer in comparison to the mainstream Amex cards. Instead, this is a special offer Fidelity makes to its favorite customers.

When you use this card, the cashback goes into the Fidelity Investments account. This can be sent to a Fidelity-managed 529 accounts, brokerage accounts, and cash management accounts. It also can go into a retirement account, which is why it might make sense for young cardholders–whatever your financial state, it can help build for retirement. Anything younger consumers can use to enhance their retirement savings is huge, because of the power of compound interest over a 40 or 50 year period.

Before I continue, I’ll say this is not a card for everyone who reads this site. Investors sometimes deal with sudden downturns in their financial fortunes, due to market downturns. Thus, it’s possible your investments have turns around and you might be wanting to know about the best cards in the business. I’ll be brief, but thorough.

2% into Eligible Account

Fidelity Investment American Express Rewards Card - Brokerage Account

A Brokerage Account Is an Appealing Option to Link to a Fidelity Investment Amex Rewards Card, But It Carries Risk.

Any time you spend using this card, you’ll be able to send 2% cash back into an eligible savings account of your choice. This can be a brokerage, savings, or a college savings account.

Take a look at the Fidelity Cash Management Rewards Calculator to see the value of these rewards over a 20-year period. For instance, $1000 cashback turns into $10,729 at the end of twenty years of interest with a brokerage account. The annual rewards is $240. It’s a neat tool, but one financial experts aren’t likely to be impressed by. It helps newer credit card shoppers learn the value of savings, though.

Receiving the hypothetical return above assumes a number of things. It means you place the full amount of rewards into your account. It means no funds are withdrawn for twenty years and your account is paid off at the end of every month. Finally and most importantly, it assumes a 7% investment return as a constant over the 20-year period. That is a nice return on your investment (ROI). In other words, it’s an investment account and a certain amount of risk is incurred.

On the positive side, eligibility includes accounts like your Traditional IRA, Roth IRA, SEP-IRA, and Rollover IRA account. The Fidelity® Cash Management Account is also available. Customers should know this is going to be pushed somewhat with ads here or there, but it’s optional and does not lock in additional savings or advantages.

College Savings Account

The rewards can be placed in a college savings account. Keep in mind that the cash added is subject to IRS rules and specific program policies. That includes meeting the annual and maximum contribution limits. Read eligibility requirements to get a full picture of the advantages.

Additional Benefits

Below is a list of the additional benefits to owning this card. Remember to read the APR and other fees information before agreeing to any terms. With all the talk I posted last week of EMV chip technology, notice that this card is chip-enhanced, so you’ll be able to get the benefit of EMV technology in over 130 countries worldwide.

  • No Annual Fee

  • No Limits on Rewards

  • Retail Purchase Protection for Merchandise

  • Travel and Emergency Assistance

  • Car Rental Loss Insurance

  • Car Rental Damage Insurance

  • Zero Liability Fraud Protection

  • Identity Theft Recovery Service

  • Chip Technology for Enhanced Security

  • 24-Hour Customer Service

This includes a 13.99% APR on purchases and a 16.99% APR minimum on cash advances. The penalty APR is 29.99%, so beware of getting on the bad side of Fidelity Investments with one of these programs. The due date is the industry-standard 25 days from purchase.

Link Your Eligible Fidelity Account to Credit Card

To get these rewards, remember to link your eligible Fidelity account to the Fidelity Investment Rewards Amex Card. Remember that you’ll need to have both in order for this program to work and that they must be linked. Once this is accomplished, you’ll lock in the best combination of rewards and savings in the finance industry.

To do this, may contact “FIA Card Services Customer Service”. This can be reached using the toll-free phone number found on the back of your credit card. Remember to provide the customer service team with your eligible Fidelity account number, or accounts numbers. Multiple account can be added, under the right circumstances.

FIA Services Page

A simpler method exists for those who prefer to do everything themselves. Click on this link” “manage reward points“. The hyperlink takes you to a page which allows you to set up the system as you see fit. Follow the easy steps to conclude your business.

This allows you to check your most recent purchases and transactions. It also allows customers to view up to 33 months of statements. For your monthly bill paying, you can set up automatic billing. Go green and paperless and get promotional rewards for doing so. Remember, these are incentives for doing something socially responsible, and should always be locked-in, because they are additional benefits to you.

When Signing Up Via Phone

Fidelity Investment Rewards American Express Card

Fidelity Investment Rewards American Express Card

When you join the program on your landline or smartphone, remember to input the promo code “VACAUL”. This locks in the best offers.

Versus Barclaycard Arrival – Why Use Any Other Card?

People might wonder why you would want to use any other card but this one. You can no advantages on foreign transactions, so you would not want to use this program when traveling abroad. Use the Barclaycard Arrival Card, instead, because with its various cashback rewards on eligible purchases, the advantages come out to 2.22% on foreign sales. Also, buying training tickets is better with the Barclaycard.

Also, Barclaycard Arrival has a massive signup bonus. While Fidelity is probably the better deal all-around, these are situation-specific, so do the math before making a final decision.

How Fidelity Investment Rewards American Express Card Works

When you activate the Fidelity Investment Rewards American Express Card, you’ll receive 2 points for every dollar in “net retail purchases” charged to the Card. Every time you spend using the card, you’re rewarded. Also, you can get additional benefits: for $2,500 in purchases you make, you’ll have $50 which can be automatically deposited into the cardholder account.

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